Edgemoor Investment Advisors Inc. Sells 755 Shares of Ecolab Inc. (ECL)

Edgemoor Investment Advisors Inc. lessened its holdings in Ecolab Inc. (NYSE:ECL) by 9.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,081 shares of the basic materials company’s stock after selling 755 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Ecolab were worth $911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ECL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Ecolab by 9.2% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,181 shares of the basic materials company’s stock valued at $2,724,000 after purchasing an additional 1,787 shares during the period. Virginia Retirement Systems ET AL lifted its position in Ecolab by 503.9% during the third quarter. Virginia Retirement Systems ET AL now owns 30,800 shares of the basic materials company’s stock valued at $3,961,000 after purchasing an additional 25,700 shares during the period. Legal & General Group Plc lifted its position in Ecolab by 4.2% during the third quarter. Legal & General Group Plc now owns 1,421,340 shares of the basic materials company’s stock valued at $182,806,000 after purchasing an additional 56,812 shares during the period. Jacobson & Schmitt Advisors LLC lifted its position in Ecolab by 0.7% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 56,854 shares of the basic materials company’s stock valued at $7,312,000 after purchasing an additional 406 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in Ecolab by 0.6% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 1,385,012 shares of the basic materials company’s stock valued at $178,126,000 after purchasing an additional 8,942 shares during the period. Institutional investors and hedge funds own 75.74% of the company’s stock.

Ecolab Inc. (ECL) opened at $132.86 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.23 and a quick ratio of 0.83. Ecolab Inc. has a 52-week low of $115.78 and a 52-week high of $134.89. The firm has a market cap of $38,390.00, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 2.22 and a beta of 1.04.

Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.01. Ecolab had a net margin of 9.67% and a return on equity of 19.05%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the firm earned $1.28 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. sell-side analysts predict that Ecolab Inc. will post 4.7 EPS for the current fiscal year.

In other Ecolab news, Director David Maclennan purchased 450 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were acquired at an average cost of $131.77 per share, for a total transaction of $59,296.50. Following the completion of the transaction, the director now owns 1,514 shares of the company’s stock, valued at $199,499.78. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas W. Handley sold 7,397 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $130.63, for a total transaction of $966,270.11. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by company insiders.

A number of brokerages recently weighed in on ECL. BidaskClub upgraded shares of Ecolab from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC restated a “hold” rating and set a $130.00 price objective on shares of Ecolab in a research report on Wednesday, August 16th. UBS AG restated a “buy” rating and set a $147.00 price objective (up previously from $144.00) on shares of Ecolab in a research report on Tuesday, August 8th. Barclays PLC increased their price objective on shares of Ecolab from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $130.00 price objective on shares of Ecolab in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. Ecolab currently has a consensus rating of “Hold” and a consensus price target of $136.86.

ILLEGAL ACTIVITY NOTICE: “Edgemoor Investment Advisors Inc. Sells 755 Shares of Ecolab Inc. (ECL)” was reported by Transcript Daily and is owned by of Transcript Daily. If you are reading this article on another website, it was illegally copied and republished in violation of international copyright and trademark laws. The original version of this article can be viewed at https://transcriptdaily.com/2017/11/27/edgemoor-investment-advisors-inc-sells-755-shares-of-ecolab-inc-ecl.html.

Ecolab Profile

Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.

Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

Receive News & Ratings for Ecolab Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ecolab Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply